The Indian market is likely to open lower Friday following mixed trend in Asian peers as investors await several economic data releases for July. At 7:50 am, the SGX Nifty was trading 9.50 points or 0.08 percent lower at 11,203.50, indicating a mildly negative start for the Sensex and Nifty50.
Here are the top 10 buzzing stocks for today:
1. HPCL: The company reported a net profit of Rs 2,813.8 crore in Q1FY21 as against Rs 26.8 crore while revenue was at Rs 37,721 crore versus Rs 66,154.8 crore, QoQ. EBITDA was at Rs 4,353.6 crore versus EBITDA loss of Rs 706.8 crore, QoQ.
2. Vodafone Idea: The company’s net loss widened in Q1FY21 to Rs 25,460 crore from Rs 11,643.5 crore in the previous quarter. Revenue fell 9.3 percent to Rs 10,659.3 crore from Rs 11,754.2 crore, QoQ. ARPU fell to Rs 114 versus Rs 121, QoQ.
3. Lupin: The company has signed an exclusive distribution pact with ForDoz Pharma for two complex injectable assets under development in the US.
4. Jubilant Foodworks: The company has forayed into FMCG category with a range of ready to cook sauces, gravies and pastes. The company has launched 8 products across Indian and Chinese cuisines which will be initially available across e-commerce portals.
5. Wipro: The company has partnered with Intel to enable Wipro’s LIVE Workspace, Wipro’s digital workspace solution with the Intel vPro platform. This joint collaboration will help customers drive business continuity by enabling remote IT support and solutions.
6. PNB Housing Finance: The company has appointed Hardayal Prasad as the new MD & CEO w.e.f August 10. Previously, Prasad was the Managing Director & Chief Executive Officer of SBI Cards.
7. Welspun Corp: The company’s board has approved listing of Welspun Middle East Pipes Ltd (WMEPL) in the local stock exchange of Saudi Arabia. The process of Listing would involve divestment of 15 percent (at maximum) of the total issued shares of WMEPL, held by Welspun Corp Ltd through its overseas subsidiary, at a pro-rata consideration exceeding $30 million, along with proportionate shares to be divested by the local partners. Post the proposed listing, the shareholding of the company in WMEPL would not fall below 35 percent from its existing shareholding of 50.01 percent.
8. Torrent Power: The company’s net profit in Q1FY21 rose 35.4 percent to Rs 372.7 crore from Rs 275.3 crore while revenue fell 19.5 percent to Rs 3,007 crore from Rs 3,736 crore, YoY. EBITDA rose 16.3 percent to Rs 969.4 crore while EBITDA margin increased by 990 bps to 32.2 percent, YoY.
9. Pidilite Industries: The company’s Q1FY21 net profit was reported at Rs 15.8 crore versus Rs 294.4 crore and revenue at Rs 877.8 crore versus Rs 2,016.2 crore YoY. Domestic volume declined 57 percent versus CNBC-TV18 poll of 60 percent decline.
10. Prince Pipes and Fittings: The company has entered into a technical collaboration with Tooling Holland BV, a global leader in the international plastic injection moulding industry based in The Netherlands.